Hiring is not an easy job and hiring for Startups can be even tougher. As a new company on the block with low brand visibility and tight cash flow, hiring the initial few employees is difficult yet critical; it can potentially build or break your Startup. Therefore, founders need to exercise extreme caution when hiring talent. Talented and dedicated staff is an essential requirement for every company and with the boom in the Startup ecosystem, the competition to hire the best talent is at an all-time high. I have listed suggestions on hiring the best Startup talent.
Offer what large corporations don’t: Besides the monetary benefits, offer a fun work environment and flexibility in work timings. Employees generally detest the bureaucratic structure and strict work timings in large organizations. Startups can cash into this dissatisfaction by offering an environment that employees feel comfortable in. Projecting your Startup as a place with an energetic and fun ambience, flexible schedule and where everyone is pursuing a common goal that benefits all is an effective way for founders to attract talent. Employees spend the major part of their time each week at work; they must feel excited when they walk into that office each day.
Share your mission and vision: Startups work as a close-knit family which is driven by passion. It is important for founders to give due importance to every prospective employee and communicate their vision and mission. If the company’s clear long-term plan can excite candidates and is in line with their career goals, they will surely join and become highly resourceful for the Startup.
Stand out from the crowd: There is a lot of competition amongst Startups to get the best talent. When everyone is trying to showcase themselves as an exciting place to work, it becomes important to differentiate your company. Start building your brand from day one. Be active on social media, write blogs and plan meetups to tell people what it is like to work for your company.
Offer attractive performance based perks besides equity: Offering equity is an usual tactic startups use to allure talent during their initial days, but offering equity may not be the strongest bait for senior hires since the company is relatively unknown. While you should consider giving equity to employees, the performance-based incentive could be a great allure for them. Align your company goals with an attractive incentive policy. When an employee does well, it helps the company grow and he gets rewarded with an incentive. It’s a win-win situation.
Outsource your hiring requirements: During the initial days of a Startup, founders have multiple things on their plate. Ideally, they should focus on core business and shouldn’t be spending much time in sourcing candidates and aligning interviews. An agency like Silverpeople that has expertise in building stellar teams for Startups can be an immensely useful partner in the hiring process. Since 2009, the company has helped many reputed Startups in recruiting top performing teams across functions. Company’s large proprietary database is used in sourcing the right candidates, which are vetted by domain expert consultants.
*Photo by Oscar Keys on Unsplash